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De Beers to Launch India Marketing Campaign
Aug 8, 2016 3:34 AM
By Rapaport News
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RAPAPORT... De Beers signed an agreement with India’s Gem &
Jewellery Export Promotion Council (GJEPC) to run a marketing campaign during
the nation’s key selling season this year.
The memorandum of understanding is in line with the miner’s initiatives
in the U.S. and China last year, De Beers chief executive officer Bruce Cleaver
told the India International Jewellery Show in Mumbai.
De Beers has conducted consumer research, with the initial focus
on smaller diamonds, targeting diamond-jewelry gifts to young married women, an
important market segment for manufacturers and retailers, Cleaver (pictured) said.
“Such a well-directed campaign would be a real boost for
diamond jewelry demand in India’s vibrant and growing consumer sector,” the CEO
pointed out, adding that the company continues to invest in opportunities in
India for the Forevermark brand.
“We see a huge latent opportunity to grow domestic diamond
jewelry sales. In fact, we believe there is perhaps more growth opportunity
here than anywhere else in the world.”
Acknowledging that diamonds were first
discovered in India, Cleaver said the nation “also represents the heartbeat of
the industry’s midstream sector.”
India’s middle class is growing fast, and the purchasing
power of the highest income households is expected to speed ahead, he said.
The GJEPC also held a dinner in aid of corporate social
responsibility initiatives in conjunction with De Beers, attended by Praveenshankar Pandya, chairman of the
GJEPC, and Cleaver.
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Tags:
Bruce Cleaver, De Beers, diamond jewelry, events, Gem & Jewellery Export Promotion Council, GJEPC, IIJS, India, India International Jewellery Show, Jewelry, marketing, memorandum of understanding, Praveenshankar Pandya, Rapaport News, shows, trade fairs, Trade Shows
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